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Public Sector Banks Do Not Have Power To Issue Look Out Circulars, Rules Bombay HC

Public Sector Banks Do Not Have Power To Issue Look Out Circulars, Rules Bombay HC
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Public sector banks don t have power to issue Look Out Circulars against defaulters: HC

Bombay HC rules public banks can t issue LOCs against defaulters. Verdict quashes all circulars. Centre s 2018 amendment allowed banks to issue LOCs in economic interest of India , but HC deems it unconstitutional.

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Public sector banks don t have power to issue Look Out Circulars against defaulters HC

(This story has not been edited by THE WEEK and is auto-generated from a PTI

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Bombay High Court rules public sector banks do not have power to issue Look Out Circulars

The Bombay High Court held that public sector banks do not have power to issue Look Out Circulars against Indian citizens and foreigners under the office memoranda of the Central government.

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Public Sector Banks Do Not Have Power In Law To Issue LOCs Against Default Borrower: Bombay HC

Public Sector Banks Do Not Have Power In Law To Issue LOCs Against Default Borrower: Bombay HC
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